New Jersey is known for its beaches along the Jersey Shore to some of the most iconic landmarks in the nation, such as the Liberty Bell, the Statue of Liberty, and Ellis Island. From the bustling streets of Newark to the picturesque shorelines of Cape May, New Jersey is a state unlike any other. Discover its dynamic culture and rich heritage by visiting iconic landmarks like Liberty State Park and the Ellis Island National Museum of Immigration. And for those seeking knowledge, New Jersey is home to renowned universities like Rutgers University and Princeton University.

Whether you're an outdoor enthusiast or a sports fan, New Jersey has plenty to offer, including the New York Giants (NFL), New York Jets (NFL), New Jersey Devils (NHL), and the New Jersey Nets (NBA). Enjoy the beautiful coastline by fishing, surfing, or sailing, and hit the slopes of nearby mountains. Make sure to visit famous attractions like the Atlantic City Boardwalk, the Camden Waterfront, and the historic town of Cape May.

A state that never stops moving, New Jersey is a melting pot of cultures, experiences, and opportunities waiting to be experienced, making it a great place to call home.

Rental Market Trends

Parsippany, NJ

As of July 2025, Parsippany's rental market is stable, offering a predictable rental market where most units lease within a few weeks. Parsippany's average rent is 15.7% ($387) lower than the New Jersey average of $2,461 and 16.8% ($299) higher than the U.S. average of $1,775.

Average Rent

$2,074

Monthly ChangeMonth Over Month Change

2.7% ($55)

Yearly ChangeYear Over Year Change

0.7% ($14)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$1,992	3.7% ($71)	0.3% ($5)
2 Beds	$2,412	0.4% ($9)	1% ($25)
3 Beds	$3,624	3.9% ($146)	2.7% ($94)

Nearby Cities	Average Rent	Avg. Rent vs. ParsippanyAverage Rent vs. Parsippany	Avg. Days on MarketAverage Days on Market
Denville	$2,629	26.8% ($555)	42 days
Florham Park	$3,226	55.5% ($1152)	36 days
Morristown	$2,350	13.3% ($276)	41 days
Lincoln Park	$2,524	21.7% ($450)	43 days
Dover	$2,263	9.1% ($189)	38 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Parsippany Rental Market FAQs

Explore rental prices, market trends, and availability in Parsippany, NJ.

What is the average rent in Parsippany, NJ?

The average rent in Parsippany, NJ is $2,074 per month.

What is the rental price range for homes in Parsippany, NJ?

Homes in Parsippany typically rent for between $1,394 and $4,711 per month, with an average of $2,074 per month.

What is the average rent for different bedroom sizes in Parsippany, NJ?

In Parsippany, the average rent for a 1-bedroom home is $1,992 per month, for a 2-bedroom home, $2,412 per month, and a 3-bedroom home is $3,624 per month.

How do rent prices in Parsippany, NJ compare with the national average?

The average rent in Parsippany is 16.8% ($299) higher than the national average of $1,775 per month.

How have rent prices in Parsippany, NJ changed recently?

The average rent in Parsippany has increased by 2.7% ($55) in the last month and decreased by 0.7% ($14) over the past year.

How competitive is the rental market in Parsippany, NJ?

The rental market in Parsippany, NJ, is currently stable, offering a predictable rental market where most units lease within a few weeks.

How long do rentals stay on the market in Parsippany, NJ?

In Parsippany, NJ, the average rental stays on the market for approximately 41 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Parsippany, NJ?

There are currently 5 rental properties available in Parsippany, NJ.

Can I afford to rent a home in Parsippany, NJ?

Based on the current averages, a household would need an annual income of $96,480 to comfortably afford a 2-bedroom home in Parsippany.